Emmis Communications (NASDAQ: EMMS) recently reported results for its fourth fiscal quarter and full-year ending February 28, 2018. Among other highlights, the company reported radio net revenues for the fourth fiscal quarter of $28.4 million, a decrease of 16% from $34.0 million in the prior year. The company also reported full year radio revenues of $142.9 million compared to $165.1 million in the prior year, demonstrating a decrease of 13%. Including the net proceeds from the company’s recently-finalized sale of its St. Louis radio stations, Emmis has less than $20 million of net credit facility debt outstanding. “In the last 12 months, we have paid down over $120 million of senior debt, leaving us on firm financial footing and providing flexibility as opportunities present themselves,” Emmis Communications CEO and Chairman of the Board Jeff Smulyan stated in the news release. “Ratings for our New York radio stations remain strong, and they are rebounding nicely in Indianapolis. The NextRadio team has done a tremendous job rolling out Dial Report, an industry-wide data attribution platform, and we believe it is uniquely positioned to meet the growing demand for robust analytics and insights into the behaviors of radio listeners.”
To view the full press release, visit http://nnw.fm/p1Fu4
About Emmis Communications Corp.
Emmis Communications is a diversified media company, principally focused on radio broadcasting. Emmis owns 16 FM and 3 AM radio stations in New York, Los Angeles, St. Louis, Austin (Emmis has a 50.1% controlling interest in Emmis’ radio stations located there) and Indianapolis. One of the FM radio stations that Emmis currently owns in New York is operated pursuant to a Local Marketing Agreement by a third party. Emmis also developed and licenses TagStation®, a cloud-based software platform that allows a broadcaster to manage album art, meta data and enhanced advertising on its various broadcasts, developed NextRadio®, a smartphone application that marries over-the-air FM radio broadcasts with visual and interactive features on smartphones, and has introduced the Dial Report™ to give radio advertising buyers and sellers big data analytics derived from a nationwide radio station network, smartphone usage, location-based data, demographic profiling and listening data. For more information, visit the company’s website at www.Emmis.com.
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